Stewardship for Annual Fund Donors February 2, 2016
Lacie LaRue
• Senior Director of Annual Giving • Oregon State University Foundation • Over 16 years of experience • Named as one of Chronicle of Philanthropy’s “40 under 40” Skylar Beaver Annual Giving Network
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Oregon State University
• Land-Grant University
• Annual Giving raises $19.5M
• 177,000 alumni
• 24,000 annual donors/7,700 $1K+
• Raise $139M annually
• 5 Staff Members
• Finished first $1B Campaign in 2014
• Pipeline strategy
Robust Stewardship Program
68% Retention Rate 45% First Time Donor Retention Rate Page 2
Agenda • What is stewardship? • The impact of stewardship • How to Avoid “Under-Thanking” • How to Avoid “Over-Thanking” • Special Audiences
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WHAT IS STEWARDSHIP?
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What does this mean for institutions?
Developing an even stronger relationship with your donors proper processing and reporting, providing communication and engagement opportunities and saying
THANK YOU!
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When Does Stewardship Begin?
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When Does Stewardship Begin? The Moment They Make Their First Gift
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When Does Stewardship Begin? The Moment They Make Their First Gift
When Does Stewardship End?
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When Does Stewardship Begin? The Moment They Make Their First Gift
When Does Stewardship End? Until the Donor No Longer Has a Relationship with the School Page 10
IMPACT OF STEWARDSHIP
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Poll: How do YOU measure the effectiveness annual fund stewardship?
Retention/Reactivation Rates Gift frequency Gift upgrades Other We don’t measure
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“Improving donor retention rates by just 10% can increase the lifetime value of your database by 150-200%” Dr. Adrian Sergeant, Bloomerang Chief Scientist
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What does this mean for institutions? On The Data Side… • Better retention rates (1st time donors) • Better upgrade rates • Increase in frequency of gifts
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HOW TO AVOID “UNDER THANKING” Page 16
Poll: How many times does your program thank donors each year?
• Once • Twice • Three times • More than three times • Not sure
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Stewardship is an afterthought….
“I only hear from you when you want money”
“I gave a gift last year, and never heard back for you”
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Process gifts correctly
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Make it timely
Studies show that donor remorse sets in within 24 hours of writing the check.
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Make it personal and customized
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Make it personal and customized
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Showcase Students
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Engage them
• Volunteer Opportunities • Invite to Events
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Provide unique extras
Downloadable extras that work with computers, smart phones and tablets
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Keep them informed
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Recognize them
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Ask them what they think
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HOW TO AVOID “OVER THANKING” Page 29
Poll: Can you thank a donor “too much?”
• Yes • No • Not sure
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“Too many thank yous makes me wonder if my gift is benefiting the students, or being used for postage and printing”
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Coordinate your stewardship efforts
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Think “Non-Tangible” & Show Impact
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Think “Non-Tangible” & Show Impact
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Provide exclusivity
Stakeholder Calls • Feature a prominent member from campus • Convenient time for donors • No need to travel .
• Exclusive invite list
Stewardship Impact Reports • Published online • Showcase impact through pictures, videos and stories • Quarterly impact emails from individual students • Specifically for Neenan Society • Not a solicitation
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SPECIAL AUDIENCES
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Special Audiences Crowdfunding donors may need specialized stewardship Other Audiences • 2nd Ask Donors • Day of Giving Donors • Special Initiative Donors
Student donors may not see value in traditional stewardship efforts Page 37
Let thanking fit the gift
Always keep in mind that stewardship should be appropriate!
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Say THANK YOU!!!
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Key Takeaways • Use retention/reactivation, upgrading and gift frequency to measure the success of stewardship • Stewardship starts with the proper processing of gifts • Customize your stewardship efforts • Use engagement to strengthen your relationships • Coordinate stewardship efforts • Show impact and provide exclusivity
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Become an AGN Plus Member Today!
AGN Plus Members can get unlimited access to all AGN webinars and additional benefits.
To learn more, visit AnnualGiving.com or email
[email protected].
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